Common use of Reserve Fund and Investments Clause in Contracts

Reserve Fund and Investments. Reports on the District’s health insurance reserve fund(s) shall be given by the District at each Health Care Committee (HCC) meeting. Investment income from the assets of the fund shall be retained in the fund. Money in excess of the incurred but not reported (IBNR) reserve fund shall be set aside for premium fluctuation and activities in support of the purpose and mission of the HCC (e.g., incentives for completing annual health risk appraisals, reimbursement for fitness center membership and participation, etc.). The HCC shall make recommendations to the Board of Education on the desired level of excess funding.

Reserve Fund and Investments. ‌ Reports on the District’s health insurance reserve fund(s) shall be given by the District at each Health Care Committee (HCC) meeting. Investment income from the assets of the fund shall be retained in the fund. Money in excess of the incurred but not reported (IBNR) reserve fund shall be set aside for premium fluctuation and activities in support of the purpose and mission of the HCC (e.g., incentives for completing annual health risk appraisals, reimbursement for fitness center membership and participation, etc.). The HCC shall make non-binding recommendations to the Board of Education on the desired level of excess funding.